Apple overtakes Microsoft as most valuable tech firm

Apple on Wednesday overtook Microsoft as the world's most valuable technology company, thanks to the persistent run-up in Apple shares and the dwindling value of Microsoft stock.

Apple's total market capitalisation as measured by the value of all the company's shares was $227.1 billion in Nasdaq trading early Wednesday afternoon after its share value rose 1.53 per cent on the day. Microsoft's shares fell 1.69 percent, giving the company a market capitalisation of $225.58 billion.

The move also made Apple the second largest company in the US, trailing only Exxon Mobile which has a market cap of $280.